Bank of America this month will try to unload roughly $42 billion of mortgage servicing rights through two different offerings, one involving private label product, according to investors and investment bankers familiar with the bank's auction plans.The first offering, which has been labeled 'Ganesha,' involves the sale of $22 billion of Freddie Mac related MSRs. The package has roughly 18.5% of delinquencies.The second offering – which was in the market and then pulled – involves $20 billion of private label MSRs, said one source who viewed the package. This auction has been dubbed 'Puma.' It's expected the Puma package will be rebid, and possibly reduced.

“The PLS package is pretty clean,” said one investor.

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